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tv   Book TV  CSPAN  June 30, 2014 7:57am-8:01am EDT

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there's the good news. will they catch up financial? i don't know. we know how the story started and as i said they started in a deeper hole than any generation probably since the great depression. they have an additional burden which i write about in the last chapter of the book, which is that our safety net, we have been so successful going back to the depression, building a social safety net that has created a floor so seniors in this society no longer fall below it. without social security and medicare, half of our seniors today would be poor. because of social security and medicare, only about 10% of our seniors are poor. this is a great triumph of public policy and everybody celebrates it, not just the seniors but their children and grandchildren. unfortunately, the math doesn't work as we go into the 21st century. we had many more workers or retirees, as baby boomers like
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me, 10,000 baby boomers will turn 65 today, 10,000 more tomorrow, the next day, the next day on the way up to the year 2030 which at that point we have two workers per retiree. we had 10, 20, 30, 40 workers. the math doesn't work. the people who run those programs know it and every year the issue a report, these are the actuaries and the number crunchers, they issue a report and they say hey, these programs are going to run out of money. 10, 15 years down the road but the longer you wait to address the problem, the deeper the hole gets and the more the burden of the solution is going to fall on our kids and grandkids. no, we owe them a better future? in my view we do. unfortunately, our system is so gridlock at the moment it has trouble taking on these big challenges. so the answer is to some degree if our political leaders step up to the challenge of rebalancing these in a way that echo across the board, we will give them a
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better chance to fly but at the moment they are very skeptical it will get these programs and i hate to say it but at the moment their skepticism is justified. >> thank you, paul. thank you for writing this book, for appearing with us today, ma for giving us some insight into these very important generational patterns. you will be signing books outside the auditorium, so if anybody would like to ask him a question, meet him, findable, you can join us out fun. so thank you very much for coming, paul. [applause] >> booktv covers hundreds of offer programs throughout the country all year long. here's a look at some of the events will be attending this week. look for these programs to air in the near future on booktv on c-span2.
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.. >> next, "the communicators" with gordon smith, president and sea owe of the national association -- ceo of the national association of broadcasters. then former president george w.


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